The Ford Motor Company has announced the appointment of Stephen Odell as president and CEO of Volvo Car Corporation. Click image to enlarge

Gothenburg, Sweden - The Ford Motor Company has announced the appointment of Stephen Odell as president and CEO of Volvo Car Corporation, replacing Fredrik Arp, who has decided to leave the company.

Effective October 1, the 53-year-old Odell will be responsible for Volvo’s global operations out of its headquarters in Gothenburg, Sweden, and will lead the company’s drive toward sustained profitability.

Odell, who was CEO of Ford of Europe, will report to Lewis Booth, executive vice-president of Ford Motor Company and chairman of Volvo Car Corporation, who will continue to oversee Volvo’s strategic direction.

“Stephen Odell brings to Volvo a wealth of experience of strong leadership in the automotive industry,” said Ford president and CEO Alan Mulally. “Given his strong track record at Ford, Jaguar and Mazda, the time is now right for Stephen to take up this new challenge at Volvo. I believe that Stephen is the right person, together with Lewis Booth and the Volvo Cars Management Team, to take Volvo forward and to return the business to sustainable profitability.”